Acceleron Pharma (NASDAQ:XLRN) Given “Buy” Rating at Cowen

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Cowen restated their buy rating on shares of Acceleron Pharma (NASDAQ:XLRN) in a research note issued to investors on Wednesday, AnalystRatings.com reports.

Several other equities research analysts have also commented on the company. Credit Suisse Group set a $58.00 price objective on Acceleron Pharma and gave the stock a buy rating in a research report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on Acceleron Pharma from $61.00 to $58.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Zacks Investment Research reaffirmed a hold rating on shares of Acceleron Pharma in a research note on Saturday, July 20th. ValuEngine raised Acceleron Pharma from a buy rating to a strong-buy rating in a research note on Thursday, August 8th. Finally, BidaskClub raised Acceleron Pharma from a sell rating to a hold rating in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Acceleron Pharma currently has an average rating of Buy and an average target price of $57.58.

Acceleron Pharma stock traded up $2.67 during trading hours on Wednesday, reaching $43.28. The stock had a trading volume of 707,400 shares, compared to its average volume of 356,167. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.11 and a quick ratio of 17.11. Acceleron Pharma has a 52 week low of $37.01 and a 52 week high of $58.11. The business’s 50 day moving average price is $42.00 and its 200-day moving average price is $42.16. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -16.71 and a beta of 1.23.

Acceleron Pharma (NASDAQ:XLRN) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.03). Acceleron Pharma had a negative return on equity of 29.51% and a negative net margin of 318.84%. The company had revenue of $4.20 million during the quarter, compared to analysts’ expectations of $4.44 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, sell-side analysts forecast that Acceleron Pharma will post -2.33 EPS for the current fiscal year.

In related news, SVP Ravindra Kumar sold 3,389 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $45.24, for a total value of $153,318.36. Following the completion of the transaction, the senior vice president now directly owns 86,986 shares of the company’s stock, valued at approximately $3,935,246.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Adam M. Veness sold 824 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $45.20, for a total value of $37,244.80. Following the completion of the transaction, the vice president now directly owns 16,124 shares of the company’s stock, valued at $728,804.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,422 shares of company stock valued at $969,486. Corporate insiders own 2.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of XLRN. Envestnet Asset Management Inc. grew its holdings in Acceleron Pharma by 7.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,745 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 422 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in Acceleron Pharma by 22.1% in the 2nd quarter. Virtus ETF Advisers LLC now owns 7,095 shares of the biopharmaceutical company’s stock valued at $291,000 after buying an additional 1,285 shares in the last quarter. Cutler Group LP grew its holdings in Acceleron Pharma by 17.1% in the 2nd quarter. Cutler Group LP now owns 8,900 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,299 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Acceleron Pharma by 8.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,784 shares of the biopharmaceutical company’s stock valued at $977,000 after buying an additional 1,920 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Acceleron Pharma by 2.5% in the 2nd quarter. Swiss National Bank now owns 81,800 shares of the biopharmaceutical company’s stock valued at $3,360,000 after buying an additional 2,000 shares in the last quarter. 90.37% of the stock is owned by hedge funds and other institutional investors.

About Acceleron Pharma

Acceleron Pharma Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics to treat serious and rare diseases. Its therapeutic candidates include luspatercept, which is in Phase III clinical trials for the treatment of myelodysplastic syndromes and beta-thalassemia; Phase II clinical trials for the treatment of patients with transfusion-dependent beta-thalassemia and myelofibrosis.

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Analyst Recommendations for Acceleron Pharma (NASDAQ:XLRN)

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